A competitive industry consists of 100 firms the short-run, Business Economics

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A competitive industry consists of 100 firms the short-run

A competitive industry consists of 100 firms. The short-run marginal cost curve for each firm is given by MC=200+30Q.

(a) What is the supply function for each firm?

(b) What is the market supply function?

(d) Calculate the elasticity of supply at the market equilibrium.

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Business Economics: A competitive industry consists of 100 firms the short-run

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Business Economics: A competitive industry consists of 100 firms the short-run

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